Throughout human history, there have been only a few social problems, the solution to which still remains an unsolved secret. One of these problems has always been and most likely will be the problem of poverty or high income inequality in certain countries and social strata, based on an income hierarchy. Many famous politicians, economists and social scientists have taken this issue very seriously and have developed a set of solutions that could eliminate or at least diminish the possibility of the devastating consequences of poverty. The most ambitious, the most obvious and, as it may seem at first glance, the simplest solution to this complex issue is simply to give people the amount of money that will be sufficient for them to cover the costs associated with the physiological needs of base and ensure financial security, thereby reducing the level of poverty to its minimum. This solution is called Universal Basic Income (UBI) and this idea was first introduced by the famous social philosopher and statesman Sir Thomas More in his well-known book “Utopia” written in the early 16th century , describing a society of abundance in which each member receives a guaranteed income. Nowadays, the policy of universal basic income is considered one of the most controversial ways to achieve well-being in a society; it is highly debated and discussed in economic forums around the world. UBI is a subject of extreme importance because it can significantly affect everyone's life and that is why this essay will be entirely devoted to the topic of the effectiveness of this socio-economic income policy, its benefits and disadvantages, conclusions drawn from the results of real surveys. -life experiences and pilot programs carried out in different countries such as Finland, Canada and many others. We will examine the opinions of the most eminent intellectuals on the past performance of universal basic income, their future predictions based on in-depth economic analysis and finally decide whether it is indeed a solution to the problem of the poverty trap , unemployment and income inequality around the world. terms of its reduction, leading to the prosperity of the entire society and its members. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay To begin, let us consider the historical empirical evidence regarding the economic performance and effectiveness of UBI. Let us first look at the basic income experiment implemented in Finland in 2017 by the government led by Prime Minister Juha Sipila. Thus, 2,000 unemployed people received 560 euros per month for two years, instead of their unemployment benefit. Basic income was paid without any conditions, recipients received payment despite their employment status. As part of this survey, the Finnish government wanted to test the impact of this financial incentive on people's desire to start their own business or find a job. The results of the experiment were quite unexpected because, as Ashitha Nagesh's BBC News article rightly pointed out: “Finland's basic income trial left people 'happier but jobless' » ». This means that basic income recipients during the experiment worked neither less nor more than those in the control group. However, the survey found that beneficiaries felt greater well-being than the control group, were happier with their lives and less stressed. Additionally, it was studied that basic income recipients had more confidencein other people and social institutions, that they also had more confidence in their own employment opportunities and their ability to make an impact. It is in fact clear that the experiment provided unique research materials for the development of the social security model of the future, but the controversial results of the experiment show that these negative expectations of an exodus from the labor market do not are not realized but at the same time, unfortunately for the supporters of the basic income policy, the more optimistic expectations of scientists that the unemployed would try to find their job and start a new business. Second, consider the Ontario Basic Income Project, under which, in 2017, 4,000 people living in Ontario, Canada, each received $5,000 to $23,000 per year in monthly payments depending on of their social status and their position in the income hierarchy. Unlike the experiment conducted in Finland, in this case not only the unemployed received this amount of money, but also those who were employed (about 70% of the statistical sample of people). However, the results were still quite disappointing: there was no big difference in the work situation between the experiment participants and a selected comparison group, whose members did not receive a basic income at all. Furthermore, government authorities decided to cancel the project early due to their dissatisfaction with the preliminary results of an experiment and its high costs. As Kathleen Wynne, former premier of Ontario, said at a 2017 economic forum in Hamilton: “We want to know if a basic income makes a positive difference in people's lives.” Again, the aid was to last at least three years. However, less than a year later, a new provincial government took power and announced that it would cancel the program and instead promised to reform social assistance province-wide. As Lisa MacLeod, Minister of Children, Community and Social Services, said: "We are pressing the pause button on a patchwork of programs that were not doing what they were supposed to do, which was say we support Ontario’s most vulnerable.” The effects of basic income on the lives of Ontarians were very similar to those of the experiment in Finland, meaning that people felt more psychologically inspired but did not work more in terms of working hours. Still, the data gives researchers something to analyze and use. To summarize the arguments listed above, one could conclude that based on these statistical samples, unfortunately not random, the aim of the experiment is to combat unemployment, to encourage the unemployed to take action. jobs instead of receiving unemployment benefits or encouraging employees to improve their financial situation has not been achieved. UBI remains a means of reforming the social security system, but its potential needs to be explored and improved not only in terms of confidence or other psychological improvement, but rather in terms of better responding to changes in working life, of using UBI in the decision-making process. Let us now focus on the more theoretical and behavioral aspect of this social policy. Indeed, UBI is seen as a great opportunity to move forward, a starting point, but what will happen if people's mentality does not change and use the money wisely, as l have shown the experiments carried out in different countries? As rightly concluded, after one experiment most of the participants..